Global Substation Automation Market

  • 4100.00 Dollar US$
  • Published date: April 28, 2021
    • Pune, Pune, Maharashtra, India
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Global Substation Automation Market was valued USD XX Bn in 2019 and is expected to reach US$ 61.56 Bn by 2026, at CAGR of XX% during forecast period of 2019 to 2026. The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region. To know about the Research Methodology :- Request Free Sample ReportGlobal Substation Automation Market Drivers and Restrains:Substation automation systems (SAS) are based on a dedicated software stored in parts of hardware that belong to a set of substation secondary components. To achieve the goal of efficient transmission and distribution of electricity, the automation of substation is required. In order to make power supply automated, use of equipment like specific software, special sensor and equipment that facilitate two way communication are entailed. There is a use of intelligent device used such as protective relays, programmable logical control and digital transducer, such type of equipment helps in the monitoring and controlling the substation equipment, also with help of such equipment the incidence and duration of power outages are reduced. The requirement of high capital cost for the installation to wireless sensor network and the lack of technical expertise are restraining the growth of the market at the global level. Increasing government support in emerging economies in Asia pacific for the use of battery technology for the electricity generation to offer growth opportunities for the market players during the forecast period. Manufacturers in the substation automation are focusing on competitive pricing as the strategy to capture significant market share. Moreover, strategic mergers, acquisitions and technological innovations are also the key focus areas of the manufacturers.Global Substation Automation Market Segmentation Analysis:Based on end users, substation automation market has been segmented into utility, steel, mining, transportation, oil and gas. Utility segment is expected to grow at a highest CAGR of XX% between 2018 and 2026. The utility segment is one of the growing application areas relating to substation automation and integration, due to the high demand-supply gap in energy in most of the emerging and emerged industries. Substation automation systems have a big opportunity in the utility sector as these systems are used in generating, transmitting, and distributing power. The modernization of grids and installation of smart grids in utility industry are fueling the market growth worldwide. For more information of visit:https://www.maximizemarketresearch.com/market-report/global-substation-automation-market/35398/

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